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00:00:00what people who know, what experts in the
00:00:03field are proposing, what needs to be done
00:00:06to definitively recover and revitalize all
00:00:08production, well, there are still challenges, well, they are very
00:00:12important challenges, no, what
00:00:15or generated. Regarding the issue of is being proposed, no, and in some way our guests have pointed it out,
00:00:18this related especially to the financing of
00:00:22Fospuca is not what infrastructure
00:00:24we take, but what also the production costs, to consolidate sustainable
00:00:27growth it would be necess
00:00:30to continue promoting investments which is fundamental,
00:00:34strengthen agricultural policies which is another important angle and
00:00:37promote the use of technologies that
00:00:42the point of view of the allow increasing the productivity of the sector, this is
00:00:44among many efforts that need to be made to fully
00:00:47recover the weight that agribusiness has had in the
00:00:51Venezuelan economy historically and that is the key, that is the
00:01:09no, and even more so at this time with
00:02:11Hello, happy night, as always, it is a
00:02:14a house, these that are called the people's houses in pleasure to be with all of you from this moment on behalf of the team that accompanies me,
00:02:16thank you very much for allowing us to enter your homes, well today we are going to talk
00:02:20about leasing, housing rental,
00:02:24because in the National Assembly the
00:02:27law of eh, of
00:02:31housing rental has just been reformed, there is
00:02:33presented are currently a new rental law and well it is
00:02:36completely different from the one that
00:02:39already existed in our country
00:02:42in this law some of the things that were changed in this
00:02:46new rental law, well, of course it regulates housing
00:02:50the property that they will now put on the market in the law, in rental contracts,
00:02:52establish, look, we are going to it allows free agreements between the parties, it seeks to stimulate the real
00:02:55estate market after the recent earthquakes
00:02:58that eh... affected Venezuela last June 24 and the standard
00:03:02consists of 27 articles approved by the
00:03:06National Assembly and approves and also approves setting the
00:03:09rental fee in foreign currency
00:03:12equivalent to the daily rate of the
00:03:16Central Bank of Venezuela. Report on rentals in our tag
00:03:19such as the adjustment of the rent with tonight, start sending us your comments
00:03:22@reporte.Gv@delvalle Canelo. To talk about the topic, our
00:03:26guest tonight is the deputy. Deputy, we hadn't had him
00:03:35here for a long time, invitation
00:03:38from the valley, it's always a pleasure, well, a new
00:03:42law that was approved
00:03:45practically in record time,
00:03:4827 articles where
00:03:52it is established what will be, from that law, the
00:03:55new modality that will be implemented for the rental
00:03:58of housing and above all that at this moment
00:04:02it is much needed because of all the
00:04:06number of people who were left homeless
00:04:09after June 24, welcome, thank you very much, Del Valle, well, in
00:04:13principle, rentals in the world have always
00:04:17worked to stimulate, for example, the beginning of youth
00:04:20being able to access decent housing in a first
00:04:24stage of life while preparing to be able to enter a second stage, which is what
00:04:27they call mortgages, to be able to access
00:04:30if you don't have property. In Venezuela, unfortunately,
00:04:33we reached a point where property, which is a constitutional
00:04:36issue, was somehow
00:04:39put into question and that caused
00:04:43many owners to be afraid to put their
00:04:47properties
00:04:50create policies for the into the real estate market for housing, that is, people rented as
00:04:52commercial premises, as offices or as industries, but for housing
00:04:56there were some regulations that controlled
00:05:00the issue of compliance with those contracts and the possibility that when a
00:05:04tenant did not comply with the contract, they could not be
00:05:07evicted and that to be evicted the process was so
00:05:10long.
00:05:12and with so much state intervention that it made many owners
00:05:16see private property at risk,
00:05:19this difficult situation that we have
00:05:23experienced after the earthquake has led to a great
00:05:26national consensus, that the chambers have finally been heard,
00:05:30for example, the chambers that have to do with real estate, eh, the
00:05:34brokers, the users who are also looking for
00:05:37alternatives to be able to live, that are not necessarily the purchase
00:05:41of a property where you need to give 100 or 200,000 dollars,
00:05:44so this has opened up a set of laws that were on the
00:05:48national agenda but had not been fully put on the table, this crisis
00:05:52has put them there, the housing rental law, the
00:05:55law against real estate fraud that also scared away
00:05:59a lot of private investment eh for the development of
00:06:02new housing complexes, especially aimed at the middle
00:06:05class sector, the debtor mortgage law that made
00:06:09the banking sector also scared and
00:06:12not stimulated financial
00:06:16mortgage credit, why? because it was unviable from an
00:06:19economic point of view for the banking sector to sustain a social
00:06:23responsibility with which there is no capacity from a technical
00:06:27economic point of view. So there are a set of laws, Del Valle,
00:06:31this has been the first, in this law very interesting things are
00:06:34proposed, but above all the most important thing is that this
00:06:38law eh proposes legal security and
00:06:41trust for the owner and for the
00:06:44tenant, so that the agreement between the
00:06:47parties eh brings things so
00:06:50novel for Venezuela such as, for example,
00:06:53private arbitration or
00:06:57commercial arbitration, that is something that works anywhere in the world, here it was
00:07:00suppressed because that was only eh eh only
00:07:04allowed or only eh the jurisdiction was attributed to
00:07:08the courts of the republic, today in an agreement between the
00:07:11owner. and the tenant they can be eh
00:07:15in agreement that any conflict be resolved through
00:07:19private arbitration through clear conditions that
00:07:23allow both parties to have the peace of mind that if
00:07:27the tenant for some reason stopped paying or stopped complying
00:07:31with their obligations during the 2 months that
00:07:34the law establishes, then the owner can
00:07:37resolve the contract, that is to do what they call
00:07:40the resolution of the contract. early due to
00:07:44breach eh, there is a number, only two months will
00:07:47be enough for non-compliance with the contract of delay, it will
00:07:51be enough for the contract to be terminated,
00:07:55oh that's right, only two months, but also for
00:07:58example there are new topics such as the clarification of public
00:08:02services, who will pay for public services, public
00:08:05services are generally paid by the user, it would be the tenant in this
00:08:09case, who is also obliged to keep up to date.
00:08:12public services, the use and destination given to the
00:08:16property, which must be an appropriate destination,
00:08:20in accordance with morality, with good
00:08:23customs, with the development of lawful activities,
00:08:26so all these are issues that were not on the table, the
00:08:30condominium, who will have to pay for it, the condominium, that is an agreement that can be
00:08:33made between the parties, but the condominium is something that should, eh, Del
00:08:37Valle, be assumed by the owner, why, because condominiums
00:08:40are regulated by a law, which is the horizontal property
00:08:43law, so that law makes the
00:08:46owner guarantee that to maintain
00:08:50the property stable, because the problem we have today, Del Valle, is that there are
00:08:54approximately between 30 and 35% of horizontal
00:08:57properties in buildings vacant and
00:09:00there are properties that people are afraid to rent
00:09:04because of the risk of losing the property, today with this new
00:09:07law that stabilizes that situation,
00:09:11that market is opening up. that it is an option for young people, for people who
00:09:14have currently lost their homes due to the tragedy, even the state has
00:09:18proposed the possibility of subsidizing some
00:09:21rentals, eh, deputy, let's take a break and come back and continue talking about this law because
00:09:25it is striking that a free
00:09:28agreement was established that would allow setting the cost of the rental by mutual agreement between
00:09:32the owner and the tenant, eh, this is very
00:09:35striking because when we are coming out of the earthquake that
00:09:38affected, of the earthquakes that affected Venezuela, many people
00:09:42eh... thought that possibly it could be
00:09:44intervened, as in the past, setting a rental
00:09:48fee as a ceiling, so we will
00:09:52talk about that when we return, let's take a break and continue talking with Deputy
00:09:55Feliz F, we'll be right back.
00:10:32Thundernet, the most economical mega
00:10:35on the market, invites you to
00:10:38watch First Page,
00:12:08We are back tonight on Reporte Estelar, we are talking about
00:12:11rentals, there is a new rental law that has already been
00:12:14approved by the National Assembly, the sanction by the
00:12:18executive is pending, "reporte alquileres" is
00:12:21our tag tonight @reporte.GB@
00:12:25We are talking with Deputy Félix Freite. Deputy,
00:12:29well, before we went to the break I told you that it was very striking
00:12:33because traditionally this
00:12:35government that we have had for 27 years in
00:12:39office, Chavismo, has
00:12:42tried to regulate absolutely
00:12:45everything, eh, control absolutely everything and
00:12:49the issue of rentals was something that was also there, that's why
00:12:52people were very afraid to rent. for fear of eviction
00:12:56later and especially with the issue if that person who rented
00:13:00has children, what will happen with that also
00:13:03because then something negative is also created, that is, if you have
00:13:07children, I won't rent to you, what happens with the rights of that person
00:13:11who can't find a place
00:13:14to rent a home having children,
00:13:18is it that somehow it can be encouraged then
00:13:22that the person is someone who doesn't have a family, I don't know.
00:13:26Yes, well, Del Valle, in principle, eh,
00:13:29this new law proposes a new model of economic
00:13:32development that establishes clear
00:13:36rules, the law, the agreements that can
00:13:39be reached between owner and tenant have the force of
00:13:42law between them, so that here, eh, this
00:13:46this will cause an opening where
00:13:49people can allow
00:13:53access, even if they have children or for older adults, vulnerable
00:13:57people, because there are simply clear rules about what the contracts
00:14:01are and what the conditions are, the good thing about all this, Del Valle, is that many
00:14:05properties that were totally off
00:14:08the market will enter the real estate market, do you have figures more or less of
00:14:12how much would they bring into the market, look, we are talking more or less
00:14:16about 30,000 homes that are currently
00:14:19owned by people who are abroad who pay a
00:14:22condominium fee that generates an expense for them. but in the end it can
00:14:26become a possibility for the property to be
00:14:29maintained and not to be depreciated
00:14:32over time, no, but that they can rent it and can obtain some income from that, that
00:14:35will make rentals in Venezuela go down because when you
00:14:39increase supply then of course prices go down
00:14:42here there is a law that is regaining
00:14:45validity in the valley, which is the law of supply and demand, a worldwide
00:14:48law, that is, the more supply you
00:14:52have, the lower the prices
00:14:55supply, but what you have is a great demand, prices are speculative, so
00:14:59we are facing a great opportunity for the real estate
00:15:03rental market to open up with stability for both
00:15:06parties, prices go down, there is trust for the
00:15:09owner and an beginning of the
00:15:13normalization of rentals as it works anywhere in the world, we will
00:15:16continue with the topic of the rental law, but since you tell
00:15:20me that, it strikes me very much because there is
00:15:24always a speculation in the
00:15:27market as a result of all this that happened, that many people
00:15:30were left homeless, eh, what happened, the sales
00:15:34of apartments shot up. if, for
00:15:37example, an apartment, for example, cost
00:15:40$1, now they are
00:15:43putting them at 180 and
00:15:46especially in areas where
00:15:49there are seismic zones, such as Los Palos Grandes,
00:15:52then there it went down, eh, in some
00:15:56way, will that also be taken into account to
00:15:59legislate now in the National Assembly, look, I think,
00:16:02Del Valle, that we should not continue to tighten the economy
00:16:06or try to set extreme prices or controls by the
00:16:10state, I think we are facing a new reality that makes
00:16:14us all reflect, that makes us change from
00:16:19role that the state must play and I think
00:16:23we must allow the market to behave naturally
00:16:26and the market when there is more supply, prices go down, what
00:16:30we have to stimulate is that there is private investment for
00:16:34the development of properties for the middle class, that people can
00:16:38buy an apartment with the aim of renting it and having a passive income that allows
00:16:41them to support their family, that economic activity and private
00:16:45investment be stimulated from all points of view, I was
00:16:48talking about the law against real estate
00:16:51fraud, that was a law that scared away many investors
00:16:55who, due to hyperinflation, the
00:16:58adjustments of prices in the amounts of payments of pre-sale
00:17:02property contracts collapsed, so
00:17:06they collapsed, the supreme court of justice made a decision where
00:17:09it prohibited indexed credits or what was
00:17:12popularly called balloon payments and that generated
00:17:16a great collapse, the result is that we do not have real estate developments
00:17:20aimed at the middle class and that is a terrible drama
00:17:24for Venezuela because that makes middle classes,
00:17:27young people, professionals who are looking for options to grow
00:17:31from satellite cities or in the surroundings of large
00:17:35capitals cannot have an option to
00:17:38start, but have to go to suburban areas or
00:17:41sectors that do not have the necessary
00:17:45services to have a decent quality of life for their family. What are the
00:17:48guarantees that this brings, apart from those we have already talked
00:17:52about, for the tenant, for the person who rents, the
00:17:56lessee, the guarantees that
00:17:59this new law brings and what are the
00:18:02guarantees for the lessor, yes, well, the
00:18:05lessor has the guarantee that they will not lose the property, they do not have
00:18:09the property at risk, and the tenant has the guarantee
00:18:13that they will be able to access a market that until today
00:18:16Venezuela did not have, that is, there were 30% of buildings
00:18:20vacant with people afraid to rent their
00:18:24apartments for fear of losing
00:18:28the law, that already comes from supply and demand and according to how the market moves,
00:18:31but now the law what are the guarantees that in law both
00:18:35the renter and the one who puts their property up
00:18:39for rent have, yes, well, the law, Del Valle, the novelty
00:18:43of this law is that it opens the possibility for
00:18:46both parties to agree that this agreement has the force of
00:18:50law, that the state does not have to intervene excessively
00:18:54in a private relationship, because definitely the
00:18:57tenant needs to have a home and a home to
00:19:00which they can access at a price eh well that
00:19:04could be considered accessible always and when there is...
00:19:07supply, the problem is when there is no supply then prices go up
00:19:11that is, if properties go up because there are none, people start
00:19:15to see that there are no options where to live and especially concentrated in large
00:19:18urban centers, that private eh arbitration
00:19:22how will it be, deputy, anyone can be that
00:19:25arbitrator, it is agreed by mutual agreement, I would like you to answer that question
00:19:29when we return, let's take another break, we are talking tonight about the new
00:19:33rental law that has already been
00:19:36passed by the National Assembly and is expected in the
00:19:40coming hours to be sanctioned by
00:19:43or rather, that it be executed by the national executive. We'll be right back.
00:20:37From July 31 to August 6 in the Universal
00:20:41Weekly,
00:20:44the table returns with a new phase of dialogue in the
00:20:47country.
00:20:50Venezuela will hold elections when it is
00:20:52ready, the livestock sector bets on
00:20:55financing to grow, South
00:20:58Korea promotes solidarity diplomacy,
00:21:02climate and roads are constant challenges in Mérida
00:21:20and Aruba resumes. The Universal Weekly.
00:21:23Look for this edition on our digital platforms.
00:21:26We are back tonight here on Reporte
00:21:54Estelar, our topic that we are addressing is the new
00:21:58rental law, rental report is our tag and
00:22:01our guest is Deputy Félix Freite. Deputy, I forgot
00:22:05the break and left you a question
00:22:08that has to do with the issue of arbitrations,
00:22:12how will the issue of arbitrations be handled, that is, each person will
00:22:16decide or by mutual agreement who will be
00:22:20the person or the institution that fulfills that
00:22:23role, yes, well, Del Valle, in Venezuela since 1998
00:22:27there is a commercial arbitration law, there are even
00:22:30chambers or associations that had
00:22:33institutions such as the Caracas Chamber of Commerce that
00:22:37created an arbitration institution in which both parties
00:22:41could agree that in case of a conflict arising, it could
00:22:44be resolved through arbitration and not through the jurisdictional
00:22:48channel, the important and
00:22:50novel aspect of this law is that not only arbitration, but also, for example,
00:22:54alternative means such as conciliation that could be carried out by
00:22:57a mayor's office through its municipal justice directorates
00:23:01through a prefecture or
00:23:04the governorships, seek mechanisms
00:23:08to resolve conflicts in which people are not
00:23:11exposed or subjected to the justice
00:23:14system that, as we know, is strongly
00:23:17questioned, that is why the reforms that are being
00:23:23addressing the issue of institutions, because
00:23:26we need people to be able to have solutions to their problems without
00:23:29needing to hire a lawyer, enter a
00:23:32complex and complicated process that will take them, from a bureaucratic
00:23:36point of view, time and money, but that they can establish an
00:23:39agreement where they can
00:23:42resolve this through a justice of the peace, for example, a justice of the peace is not
00:23:46a person who charges professional fees, so a justice
00:23:50of the peace can conciliate to seek mechanisms for conflict
00:23:54resolution and that can be established within the contracts,
00:23:57the important thing, as I told you, Del Valle, is that people have
00:24:01new options to be able to resolve any
00:24:04differences that may exist, issues
00:24:09the passage of time, issues such as the solution of
00:24:13housing problems in its maintenance, what are
00:24:16minor repairs or major repairs, diverse
00:24:19issues that arise and that the use of the property means that
00:24:23we are going to get to that, deputy, there are several things and I
00:24:27would like to go there because this is the last part of the program, for
00:24:30example, the limits of the increases, eh, when the
00:24:33contract expires after 6 months, a year, the time for which the
00:24:37contract is established, how will that increase be? look, Del Valle,
00:24:41the first or the main
00:24:43innovation that this law brings is that rentals or
00:24:47rental fees are allowed in currencies
00:24:50other than the legal tender, so that
00:24:53we can set fees in euros,
00:24:56fees in dollars, fees that are not
00:25:00necessarily tied to our currency, which has indeed
00:25:04been seriously exposed to progressive
00:25:07devaluations and that put the value of the property at risk.
00:25:10Eh, with the issue of deposits, because generally it was asked
00:25:14for three months deposit, if you rent through a real estate agent, one month
00:25:17in advance and eh... three deposits, sometimes
00:25:21a year in advance plus the month of commission that you have to give to the
00:25:24real estate agent, something that with the economic situation and the purchasing
00:25:28power of Venezuelans for many people eh it is
00:25:31uphill, how will that be handled? yes, this law eh
00:25:35encourages insurance companies to
00:25:40amount of up to three monthly payments so that those people,
00:25:43the owner can have a guarantee that if something
00:25:47happens to that property or because let's remember that
00:25:51the deposit is the guarantee that if something happens eh
00:25:55attributable to the tenant, the tenant must respond,
00:25:58that's why those three months of deposit were established, this law creates this new
00:26:02alternative which is the purchase of an insurance policy which is much more
00:26:06economical than paying the 3 months and those 3 months can serve
00:26:09the tenant as a guarantee and so that
00:26:12they would only enter by paying the monthly payments due
00:26:17repairs, how will this be handled in this new law? Well,
00:26:21the law clearly establishes that when repairs
00:26:24are equivalent to less than 30% of the
00:26:27monthly rent, the tenant would assume them, so
00:26:31if what gets damaged is a faucet or what
00:26:35deteriorates is a toilet tap, those are things that
00:26:39should effectively be covered by the tenant, the lessee,
00:26:42when there are already cases superior, let's say, structural
00:26:46issues of the apartment or issues that
00:26:49have to do with the deficiency due to the passage of time
00:26:52and the deterioration of a public service such as gas, water or
00:26:56drainage, that imply an expense higher than
00:26:59that 30% of the monthly rent must be assumed by the owner. And as for the
00:27:03habitability conditions of the properties, because there are properties
00:27:06that are, well, rented out and perhaps have some flaws,
00:27:12the issue, you just mentioned it, the issue of structural failures
00:27:15that, well, there are many, eh, many buildings
00:27:19that at this moment were qualified with
00:27:22yellow and red
00:27:26labels, no, which does not mean, for example, in the case of red, that
00:27:30eh, that it has to be demolished. But that will depend
00:27:33on a subsequent evaluation by
00:27:36structural engineers, no, yes, well, the norm seeks to prevent
00:27:39that there are no rental relationships
00:27:43where the tenant's life is at risk,
00:27:47so it is totally prohibited, for example,
00:27:50buildings like those that currently have a red rating,
00:27:54either by the Fumbicis or by a mayor's office, they definitely
00:27:58cannot be rented because there is a risk situation, they must have
00:28:01habitability. Let's remember that this is something that the
00:28:04municipalities deliver, especially in horizontal property, the most important
00:28:08thing is that the buildings that are going to be designated for rent
00:28:11have their habitability permit
00:28:14granted by the municipal authorities, well, in
00:28:17summary, deputy, what does this new law bring
00:28:21to both tenants and landlords? Yes, I believe that here
00:28:24the real estate market opens up in a
00:28:28majestic, sensational way, I think we will
00:28:31have many properties in the rental market, I think this will
00:28:35make rental prices go down, I think many
00:28:38owners will feel the attraction, the
00:28:41need to get rid of that problem that today the
00:28:45property generates an expense in the condominium and they will put it
00:28:49on the rental real estate market so that it even generates some
00:28:52income, I think there are many good things that this rental law brings, but above all
00:28:56the valley, I think this is the beginning of a new
00:28:59stage where private property will be
00:29:02respected, where tenants will have access
00:29:06to new homes and where I think we are on the right track
00:29:10towards a process of missing the issue of credits, thank you very much deputy, the
00:29:14credit to be able to acquire a home and that this
00:29:17can also be a guarantee,